AB803,,450 (d) Alter any condition or restriction related to the charitable interest.

AB803,,451 (3m) Notwithstanding subs. (3) and (5), if the first trust is an account in a pooled trust described in 42 USC 1396p (d) (4) (C), the 2nd trust may be an account in another pooled trust described in 42 USC 1396p (d) (4) (C) or a trust described in 42 USC 1396p (d) (4) (A) regardless of any of the following:

AB803,,452 (a) Any effect on a charitable interest in property that is permitted to be retained in the first trust under 42 USC 1396p (d) (4) (C) (iv).

AB803,,453 (b) Any effect the trust retention and Medicaid reimbursement provisions of the 2nd trust may have on a charitable interest in the first trust.

AB803,,454 (c) Any change in the identified charitable organization.

AB803,,455 (d) Any change in the governing law or principal place of administration of the trust.

AB803,,456 (4) If there are 2 or more 2nd trusts, the 2nd trusts shall be treated as one trust for purposes of determining whether the exercise of the decanting power diminishes the charitable interest or diminishes the interest of an identified charitable organization for purposes of sub. (3).

AB803,,457 (5) If a first trust contains a determinable charitable interest, the 2nd trust or trusts that include a charitable interest pursuant to sub. (3) must be administered under the law of this state unless any of the following applies:

AB803,,458 (a) The attorney general, after receiving notice under s. 701.1307, fails to object in a signed record delivered to the authorized fiduciary within the notice period.

AB803,,459 (b) The attorney general consents in a signed record to the 2nd trust or trusts being administered under the law of another jurisdiction.

AB803,,460 (c) The court approves the exercise of the decanting power.

AB803,,461 (d) The identified charitable organization consents in a signed record delivered to the authorized fiduciary.

AB803,,462 (6) This subchapter does not limit the powers and duties of the attorney general under the laws of this state other than this subchapter.

AB803,,463 701.1315 Trust limitation on decanting. (1) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of any of the following:

AB803,,464 (a) The decanting power.

AB803,,465 (b) A power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.

AB803,,466 (2) Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of any of the following:

AB803,,467 (a) The decanting power.

AB803,,468 (b) A power granted by state law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.

AB803,,469 (3) A general prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause restraining the voluntary or involuntary transfer of a beneficiary’s interest does not preclude exercise of the decanting power.

AB803,,470 (4) Subject to subs. (1) and (2), an authorized fiduciary may exercise the decanting power under this subchapter even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute part or all of the principal of the first trust to another trust.

AB803,,471 (5) If a first-trust instrument contains an express restriction described in sub. (2), the provision must be included in the 2nd-trust instrument.

AB803,,472 701.1316 Change in compensation. (1) If a first-trust instrument specifies an authorized fiduciary’s compensation, the fiduciary may not exercise the decanting power to increase the fiduciary’s compensation above the specified compensation unless any of the following applies:

AB803,,473 (a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.

AB803,,474 (b) The increase is approved by the court.

AB803,,475 (2) If a first-trust instrument does not specify an authorized fiduciary’s compensation, the fiduciary may not exercise the decanting power to increase the fiduciary’s compensation above the compensation permitted by this chapter unless any of the following applies:

AB803,,476 (a) All qualified beneficiaries of the 2nd trust consent to the increase in a signed record.

AB803,,477 (b) The increase is approved by the court.

AB803,,478 (3) A change in an authorized fiduciary’s compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary’s compensation for purposes of subs. (1) and (2).